What Is A Liquor Inventory Management Software?
A liquor inventory management software is an app or a website that has various tools and applications that help keep stock of the liquor inventory - as the name suggests - and help in each part of the process, even automating it wherever possible. Some might confuse it with bar inventory software but the latter helps with the inventory control of all the products used in a bar, including liquor. A liquor inventory management software works with liquor bottles only.
Why You Need Liquor Inventory Management Software For Your Bar
Why Liquor Inventory Management Software Is Necessary For Bars?
Taking accurate inventory is necessary to manage a bar well. The number of bottles - brand and type-specific - needs to be logged in, the usage of liquor needs to be recorded, and the number of times any type or brand needs restocking needs to be kept track of. With all this to be done, it is time-consuming for the bartenders or managers to do it manually. The inventory system being used in the particular bar is also to be taken into consideration when taking inventory. Purchase orders need to be placed well within time before depletion of the liquor at the bar. Once the order is met, the invoices need to be raised, as per the terms of service as decided upon previously with the suppliers. Imagine the amount of time that will be required to do it all, apart from the actual bartending and managing. Inventory software that helps keep track of the Bar Inventory - as also food inventory where applicable - helps overcome the time-hurdle and aids in quickening the inventory process.
How Does A Liquor Inventory Management Software Help A Bar?
Any bar or restaurant needs to have an inventory management system that ensures that not only the bar inventory is tracked, but also the pour cost is optimized, employee theft is avoided and inventory time is reduced. This ensures that the whole process - from the inventory process to the ordering process - is made optimal for the business. A good software program does all of the above along with keeping track of the inventory data, sales data and compiles it in an inventory spreadsheet that can later be analyzed. It also aids in increasing the profit margin of the establishment as the sales and inventory data can be tracked and analyzed.
What To Look For In A Liquor Inventory Management Software
How to find the best liquor inventory management system that works best for your establishment? Understanding how a beverage inventory management system works and how it helps your bar will help you operate it optimally. When choosing the inventory management software, look for these functionalities and offers.
Integration with POS system-
The app should be integrated directly with the Point of Sale (POS) system. It helps with order planning reports, data forecasting, integrated accounting, and beyond. Integration between the software and the POS system will get all the sales data from the POS system and relate it to the inventory data from the inventory management system. This offers better insight into losses and sale trends.
Large database of suppliers-
An inventory management system that offers a large database of suppliers and the rates they offer the liquor at, helps when placing orders. The database should include the different brands of liquor, the many types of liquors available as also the rates at which they are being sold.
Service by the experts
Whenever you buy any software, look for the customer service offered by the makers. This helps you overcome any technical difficulties you may face when using the software. Understanding the nuances of the software will aid you in using it in the best way possible.
What Does A Liquor Inventory Management Software Do?
Why you need a beverage inventory management system is evident now. But what does it exactly do beyond counting inventory? Here's looking at what the top beverage inventory apps do to help the bartenders and bar managers.
Keeps track of inventory-
To manage inventory, one needs to ensure that the inventory process - from placing a purchase order to receiving the order, from stocking the liquor bottles to tracking the pour cost in the POS systems - runs smoothly. A liquor Inventory Management software makes inventory tracking at a restaurant or bar an easy task.
Track sales and stock-
Having a bar inventory spreadsheet in place makes understanding the trends in liquor sales and the need for re-evaluation of purchases easy. To track liquor sale trends, one needs to have updated real time information that will have the bartenders and bar managers getting the appropriate numbers of liquor bottles when next ordering or using the data to offer deals to the customers that will, in turn, raise the bar profits.
Any rules and regulations pertaining to liquor, wine, beer, or such Alcohol Consumption need to be abided by. It can range from being able to serve liquor at certain times or serving the liquor at all. Compliance can range from law-related regulations to the rules of the establishment. Once the norms are updated in the bar management software, it can ensure compliance.
If you connect your inventory management software to the POS systems and also to automated pourers, you can keep track of which liquors are working with the customers and which aren't and which liquors are seeing more usage (read- wastage) when logs don't match as per the sales. The software helps to increase bar profits and reducing the losses.
Improving the ordering decisions-
Once the data has been collected by the software, one can figure out what is working and what isn't with the customers. The ordering decisions need to be optimized to ensure there isn't any over-stocking of a particular brand or type and no shortage of any that sells well.
Challenges Without A Liquor Inventory Management Software
The Supply Chain of the bar - from ordering and stocking to tracking trends and actual sales - is taken care of by the bar inventory app that offers liquor inventory management software. Using this bar inventory software helps in managing the bar and keeping the liquor cost and the pour cost at the appropriate level for the bars and restaurants. The time taken by doing the inventory counts manually, along with the whole process that is otherwise taken care of by the easy-to-use inventory app, is also reduced drastically. Also, consider the human errors that can happen when doing things manually. These are overcome when using the liquor inventory management app.
Key Takeaways-: A liquor inventory management software can help the bar owners, managers, or bartenders in following ways. 1. Reduce time spent on taking inventory. 2. Increase bar inventorizing and logging accuracy. 3. Track losses and gains. 4. Ensure compliance. 5. Track stock and sales. 6. Record sales and demands trends. 7. Improve ordering decisions.
Liquor Inventory Management Software Apps You Can Use
With the functions that these apps provide being so essential, there is a demand in the market for a good bar inventory app that has liquor inventory management software. There are quite a few inventory apps available that offer liquor management software in it. Here's looking at some that are good at what they do.
This software helps with mobile functions like price changes, product transfer, inventory management, and adjustments, etc. It also is able to integrate seamlessly with your website or android app. It also shows monthly wholesale vendor pricing which makes placing purchase orders easy.
This liquor inventory software helps you to cut costs in the business and lower the bottom line in different ways. The barcode and wireless device integration in this software helps to account for and also track all the liquor bottles with ease. It helps track all liquor bottles that your establishment owns, purchases, maintains, or sells.
Accardis liquor inventory system
Many establishments can face the problems of their employees offering unauthorized free drinks or overpouring the liquor or even theft. This can decrease the profits considerably. Using the Accardis liquor inventory system can help overcome these hurdles.
Statistics-: According to a report, losses resulting from things like over-pouring or theft or offering unnecessary free drinks in the retail industry can run as high as 25 percent of sales. The average loss due to these factors is estimated to be 17 percent. Using liquor inventory management software can help overcome these numbers.
This app helps the establishment to track their beer, wine, or any liquor and take inventory quickly and effectively. It helps control the costs and run a profitable operation. This helps in having better processes of operation, lower costs, and higher profitability.